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Marketing to Gen Z requires a different approach than marketing to millennials. Abercrombie & Fitch learned this the hard way as its millennial playbook became outdated for younger shoppers, earning it the title of 鈥渕ost hated retail brand鈥� in the US in 2016 by the American Customer Satisfaction Index.

Gen Zers are more calculated in their purchase decisions and are less likely to make impulse purchases compared with older generations. Social media is just one tool they use to evaluate products.

Over half (51%) of Gen Z consumers worldwide use social media to look up a brand versus 45% who turn to search engines, per GWI Core data from 2023.

Gen Zers provide a pivotal opportunity for banks as at least 4 million of them will open accounts each year through 2026.

By 2027, there will be a combined 135.5 million Gen Z and millennial social network users in the US, over half of total US social network users, according to our forecast.

As Gen Zers鈥� buying power grows, retailers need to understand the best ways to connect and engage with them, whether that鈥檚 through leaning into product discovery or creating a more seamless payment process. We take a look at some of Gen Z鈥檚 shopping habits and what they mean for retailers.

Just 39.6% of US Gen Z mobile banking users feel comfortable saving for the long term given their financial situation, per our September 2023 survey.

Life insurance ownership is dwindling among US consumers, but demographic trends can shape acquisition strategies of new life insurance policyholders. Addressing pain points of Gen Z consumers can help marketers boost ownership rates of policies.

Of US Gen Zers on Threads, 40.1% downloaded the platform because it looked fun, while 38.7% wanted to try something new, according to our survey data.

On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss how Gen Zers discover products; where they stand on buy now, pay later; and how loyal they really are to brands. Then, for "Pop-Up Rankings," we rank three campaigns that really worked with Gen Z. Join our analyst Sara Lebow as she hosts analyst Arielle Feger and editor Catherine Ollinger.

On today's episode, we break down everything there is to know about banking and the Gen Z demographic. In our 鈥淗eadlines鈥� segment, we discuss the article our analyst Tyler Brown published a few weeks ago about Greenlight, a neobank for kids, teens, and families. In 鈥淪tory by Numbers,鈥� the conversation revolves around why Gen Z is different from other generations and how banks need to cater to their mobile preferences. And in 鈥淔or Argument鈥檚 Sake,鈥� host Rob Rubin takes the position that in 10 years, there will be fewer than 500 consumer banks. Tune in to the conversation between Rubin and analysts Tyler Brown and Tiffani Montez.

Following TikTok trends is vital for staying relevant when working with influencers, creating content on owned channels, or developing paid social ads. But trending content on the platform also reveals greater patterns of what works (and what doesn鈥檛) with Gen Zers, 71.1% of whom will be on TikTok next year, according to our May 2023 forecast.

Gen Z women trust beauty influencers: Roughly eight in 10 Gen Z women shop for creators鈥� beauty and personal care recommendations.

Every marketer wants to know: What do Gen Z consumers care about? How do they shop? What motivates them to make a purchase?

Key stat: 28.0% of Gen Z consumers have discovered grocery products via search engines, compared with 16.7% that have discovered products while browsing store shelves, per our forecast.

TikTok, Instagram, and Snapchat are where Gen Zers spend most of their daily time. Across the US population ages 18 to 24, time spent on TikTok will average 58 minutes per day in 2023, compared with 38 minutes for Instagram and 30 minutes for Snapchat.

As Gen Zers grow up and their purchasing power expands, they鈥檙e redefining the relationship between brand and consumer, expecting brands to be community-focused, authentic, and culturally relevant.

As Gen Zers grow up and their purchasing power expands, they鈥檙e redefining the relationship between brand and consumer, expecting brands to be community-focused, authentic, and culturally relevant.

Gen Z consumers of beauty and skincare products are most attracted to brands for their pricing (48%), samples (46%), and sustainability (44%), according to Bolt. Pricing is a bigger influence for older consumers, cited by 61% of those ages 18 and older.

Gen Zers in the US want their brands to support mental health more than any other cause, cited by 53% of those surveyed by ICSC and Big Village. Tied for second place are environmental causes, including climate change and sustainability, and racial and gender equity (47% each).

For Gen Z, music festivals like Coachella or Stagecoach aren鈥檛 just about the music鈥攖hey鈥檙e about self-expression. Because of how closely Gen Z links festivals and fashion, apparel brands like Pascun are using the events to connect with the young festivalgoers. And Pinterest is tapping both online and on-site activations for Coachella.

Don鈥檛 let the myths get you down, social shopping is alive and well. Gen Z is full of contradictions. And 鈥淭ikTok-famous鈥� is becoming synonymous with Hollywood famous. Here are three key takeaways from Shoptalk 2024.

TikTok remains Gen Zers鈥� preferred social network in terms of time spent, but its growth is hitting a wall. That鈥檚 natural, given the enormous amount of time they鈥檙e already spending on the app.

42.4% of US Gen Z banking consumers would consider their proximity to ATMs as a factor before choosing a new bank, while 28.8% would consider their distance to a branch, according to our survey. By contrast, 39.6% would consider the bank鈥檚 reputation.